2006 Kentucky Revised Statutes - .100   Dissolution of self-insured program -- Approval of plan by executive director.

304.50-100 Dissolution of self-insured program -- Approval of plan by executive director. (1) If a self-insured group decides to dissolve its self-insured program, the trustees shall: (a)  File a detailed plan of dissolution with the executive director for prior approval; (b)  Provide sixty (60) days written notice by certified mail to the executive director and each group member; (c)  Pay approved dividends; and (d)  Establish arrangements for the continued payment and servicing of all outstanding claims, including incurred but not reported claims. (2) The executive director shall approve the plan unless the executive director determines it to be unlawful, unfair, inequitable, or prejudicial to the interests of the members or injured workers, or the plan does not fully discharge all obligations of the group. Effective: March 1, 2005 History: Created 2005 Ky. Acts ch. 7, sec. 20, effective March 1, 2005. Legislative Research Commission Note (3/1/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section. Page 1 of 1